Wal-Mart cuts top end of spending forecast: report

19 Oct 2010 , 05:11 PM

Wal-Mart Stores Inc. reportedly pared the top end of its capital spending forecast by US$1bn for next year, as the world’s top retailer focuses on rolling out more new stores in the United States. Company also expects overall sales growth of between 4% and 6% next year.

According to reports, instead of spending more to meet its new goals, Wal-Mart said it plans to shift money to remodel its supercenters.